Industry Newsgenerative aicryptocurrencystablecoins
Crypto Firms Cut Hundreds Amid Market Downturn
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Cryptocurrency firms announced hundreds of layoffs in March 2024, with CoinDesk reporting on March 21 that Crypto.com cut 180 jobs, Algorand Foundation let go roughly 25% (under 200 employees), and Gemini reduced staff by about 25–30%. Companies attribute the cuts to a crypto market downturn, macro uncertainty, consolidation and increased AI adoption, while PYMNTS finds 42% of middle-market firms have discussed stablecoins and 13% report use.
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